Associated Bank announced the completion of a $25 million loan to an affiliate of IM Properties for the refinancing of Mariano’s Fresh Market in Westmont, Illinois.
It is the second loan by Associated bank, secured by a single-tenant Mariano’s grocery store in two months. The Westmont Mariano’s is a 73,023-square-foot property located at 150 W. 63rd St. and opened last year in March.
The borrower is an affiliate of IM Properties PLC. Associated Bank served as the lead arranger and agent for the loan. Daniel Barrins of Associated Bank originated both this loan and the on for the Orland Park Mariano’s.
